nip1
  
  v.
 (nips, nipping, nipped)
    - pinch, squeeze, or bite sharply. 
▸
(nip something off)
 remove something by pinching or squeezing sharply.
 - (of the cold or frost) cause pain or harm to.
 - Brit. informal go quickly.
 - US informal steal or snatch.
 
n.
  - an act of nipping.
 - a feeling of biting cold.
 
 
  Phrase
  
    
      - nip something in the bud
 suppress or destroy something at an early stage. 
    
   
  Etymology
  ME: prob. of Low Ger. or Du. origin.
 
  
    
nip2
  
  n.
 a small quantity or sip of spirits.
v.
 (nips, nipping, nipped)
 take a sip of spirits.
 
  Etymology
  C18: prob. an abbrev. of the rare term nipperkin ‘small measure’.